Geode Capital Management LLC Sells 41,867 Shares of The Gorman-Rupp Company (NYSE:GRC)

Geode Capital Management LLC lowered its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 474,066 shares of the industrial products company’s stock after selling 41,867 shares during the quarter. Geode Capital Management LLC’s holdings in Gorman-Rupp were worth $18,469,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in shares of Gorman-Rupp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,339,069 shares of the industrial products company’s stock valued at $49,156,000 after purchasing an additional 17,340 shares during the period. Mechanics Financial Corp lifted its stake in Gorman-Rupp by 105.7% in the third quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company’s stock valued at $39,450,000 after buying an additional 520,361 shares during the period. Cooke & Bieler LP boosted its holdings in shares of Gorman-Rupp by 3.3% during the 2nd quarter. Cooke & Bieler LP now owns 563,422 shares of the industrial products company’s stock worth $20,683,000 after buying an additional 17,977 shares in the last quarter. Robeco Schweiz AG acquired a new stake in shares of Gorman-Rupp during the 2nd quarter worth approximately $7,876,000. Finally, Needham Investment Management LLC grew its position in shares of Gorman-Rupp by 218.8% during the 3rd quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company’s stock worth $4,966,000 after buying an additional 87,500 shares during the period. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Trading Down 1.2 %

Shares of Gorman-Rupp stock opened at $38.23 on Friday. The company has a market capitalization of $1.00 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95. The stock has a fifty day simple moving average of $40.41 and a 200 day simple moving average of $38.95. The Gorman-Rupp Company has a 12-month low of $30.47 and a 12-month high of $43.79. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99.

Gorman-Rupp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, November 15th. Gorman-Rupp’s dividend payout ratio (DPR) is presently 51.03%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 29th.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.